As Bitcoin entered the $ 45,000 zone on December 13, the ripple effect led Binance Coin and VeChain to break their long-term resistance levels. Furthermore, EOS still struggled to cross the 38.2% Fibonacci hurdle.
Moneda de Binance (BNB)
BNB formed a descending (white) channel after a breakout of the ascending channel on December 9. As a result, the alt experienced a loss of 8.9% in seven days. With this drop, the bears pushed the price below its immediate resistance at the $ 532 mark. The bears retested the previous level for almost 45 days until they finally held the price below that mark for more than two days. .
Over the past two days, BNB bulls struggled to test the $ 532 mark three times, but failed to break it. However, the selling pressure has yet to negate its long-term uptrend line. Now the descending channel midline (white, dashed) and the bottom line EMA tape (dark yellow) stood as an immediate obstacle to the conquest of alt.
At press time, BNB was trading at $ 529.7. The RSI It moved laterally below the midline, but showed slight signs of revival. To top that, OBV it projected ever-rising bearish sentiment. However the TO THE exhibited a slight increase in bullish strength as the crypto noted a 1.3% gain in 24 hours.
VET’s bearish gravitation accelerated after an expected bearish pennant breakout December 9. This decline was translated into a descending channel after the alt noted a 13.7% drop on its weekly chart. It dropped steadily in the past month after hitting its six-month high on November 9.
Since then, the altcoin has seen a staggering 51.2% decline in 30 days and disapproval of its long-term uptrend line. This fall led the bears to break the Four-month bullish resistance at the $ 0.084 mark.
At press time, the alt was trading at $ 0.07914 after noticing a 5.8% gain in 24 hours. In the 4 hour time frame, VET’s RSI It practically struggled to break the midline for over a month, representing a substantially strong bearish influence. Furthermore, it showed no signs of revival in the short term. He too DMI lines confirmed the bearish outlook while the TO THE showed the 24-hour bullish momentum.
During the past 13 days, EOS managed to form a symmetric triangle after a collapse of the descending channel on its 4-hour chart. Also, after hitting its 6-week low on Dec 3, the alt saw a rally above the 38.2% Fibonacci resistance, but was unable to sustain that level. As a result, price action tumbled below that level after marking a loss of more than 11% in the past week.
EOS dipped steadily after hitting its seven-week high on November 10. At press time, EOS was trading at $ 3,345. Now, the bulls will try to retest the 38.2% level before a possible rally. Short-term technical data for the coin showed mixed signs.
The RSI it was just above the midline, but showed signs of weakening. In addition, the DMI Y TO THE showed an upward bias. However, the ADX represented a weak directional trend for EOS.
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Binance Coin, VeChain, EOS Price Analysis – Dec 15